USDCAD approaching resistance, potential drop!

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Dólar Americano/Dólar Canadense (FX:USDCAD)

FX:USDCAD Dólar Americano/Dólar Canadense

trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignals

USDCAD is approaching our first resistance at 1.3331 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 1.3215 (horizontal pullback support, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance and a reaction below this level might see a corresponding drop in price.
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